Tuesday, February 24, 2015

Hunting for Optimality

OK. Sometimes, we really do need to find 'the' answer. Recall the scene from Jaws: "It's a shark, not the shark". But in general, seeking 'the' one and only, true, unique, prophetic optimal solution to real-life decision problems is an exercise in futility. It makes sense to talk about the best practically achievable solutions given resource constraints, costs, and priorities, which can then be iteratively refined over time. While filling out a healthcare quiz about better nutrition and weight management, I was delighted to see this question.

The health-care researcher who designed this quiz deserves a round of applause.

But how do Operations Researchers find such solutions? Sometimes, the problems are provably cute (journals love to publish these).

Operations Research and Analytics

Experienced Operations Research and Analytics Practitioner with 16+ years of hands-on experience with R&D services, analytical product development, and customer interaction. Published in top ORMS journals and hold multiple patents for analytic solutions.
Domain expertise in Aviation and Retail.
Current interests: Applied Demand Modeling and Retail Pricing Analytics.
Permanent Interest: Dharma; Indian Science and Math.
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